Snow gives lift to tourism operator

Ski field and aquarium operator
Living and Leisure Australia
is expecting to carve out some solid earnings in the first half of fiscal 2011 despite uncertainty in the tourism sector.

Chairwoman
Julanne Shearer
said the group’s Alpine Enterprises business had been performing soundly.

“An abundance of snow at the end of the season generated strong bookings throughout September and this will be reflected in AAE’s contribution to the group’s December half- year results," Ms Shearer said at the group’s annual general meeting yesterday in Melbourne.

“Acquisitions will only be investigated if they are low-risk and immediately yield accretive. There are none under consideration." Instead the group’s non-core ski field property holdings would be sold down in an orderly fashion to reduce debt.

She said the group was also ­considering options for Mooloolaba Wharf in Queensland.